Short Interest in Bolt Biotherapeutics, Inc. (NASDAQ:BOLT) Decreases By 91.6%

Bolt Biotherapeutics, Inc. (NASDAQ:BOLT - Get Free Report) saw a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 21,500 shares, a drop of 91.6% from the May 15th total of 256,500 shares. Approximately 1.7% of the company's stock are short sold. Based on an average daily trading volume, of 18,900 shares, the short-interest ratio is currently 1.1 days.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BOLT shares. HC Wainwright reaffirmed a "neutral" rating on shares of Bolt Biotherapeutics in a research report on Tuesday, March 25th. Stifel Nicolaus reduced their price objective on shares of Bolt Biotherapeutics from $25.00 to $20.00 and set a "hold" rating for the company in a research note on Tuesday, May 13th. Finally, Lake Street Capital started coverage on Bolt Biotherapeutics in a research report on Tuesday, May 20th. They issued a "buy" rating and a $80.00 price target on the stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Millennium Management LLC acquired a new stake in shares of Bolt Biotherapeutics during the fourth quarter worth approximately $25,000. Squarepoint Ops LLC acquired a new position in Bolt Biotherapeutics during the 4th quarter worth about $26,000. Velan Capital Investment Management LP bought a new stake in Bolt Biotherapeutics during the 4th quarter worth about $27,000. Finally, Citadel Advisors LLC acquired a new stake in Bolt Biotherapeutics in the 4th quarter valued at about $42,000. 86.70% of the stock is currently owned by institutional investors and hedge funds.

Bolt Biotherapeutics Stock Performance

Shares of NASDAQ:BOLT traded down $0.17 during trading on Thursday, hitting $6.36. 9,172 shares of the stock were exchanged, compared to its average volume of 10,583. The company has a market capitalization of $12.19 million, a price-to-earnings ratio of -3.72 and a beta of 0.91. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.16 and a current ratio of 3.16. Bolt Biotherapeutics has a 1-year low of $5.20 and a 1-year high of $15.60. The company's fifty day simple moving average is $6.75 and its 200-day simple moving average is $8.89.

Bolt Biotherapeutics (NASDAQ:BOLT - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($5.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($6.80) by $1.00. Bolt Biotherapeutics had a negative net margin of 665.56% and a negative return on equity of 69.46%. The firm had revenue of $1.22 million for the quarter, compared to analyst estimates of $0.77 million. Sell-side analysts expect that Bolt Biotherapeutics will post -1.61 EPS for the current fiscal year.

About Bolt Biotherapeutics

Bolt Biotherapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the development of immunotherapies for the treatment of cancer. The company's lead product candidate BDC-1001, which is in clinical development for the treatment of patients with human epidermal growth factor receptor 2- positive solid tumors, including breast, colorectal, endometrial, and gastroesophageal cancer.